Tag Archives: SHAFAQ News

U.S. Energy Information Administration (EIA) has reported a dramatic upswing in its weekly crude oil imports from Iraq, with the volumes doubling over the last week. According to EIA’s compiled data, the average daily import of crude oil from nine primary exporting nations surged to 5.709 million barrels. This represents …

The Energy Information Administration (EIA) announced on Sunday that Iraqi oil exports to the United States have surpassed 250,000 barrels per day, establishing Iraq as America’s fourth-largest source of oil in the past week. In a report, the administration stated, “The average U.S. imports of crude oil from eight countries …

Iraq is negotiating with Turkey to resume pumping oil exports from the Kurdistan region, confirmed by Iraqi Oil Minister Hayan Abdul-Ghani on Friday. He also emphasized that the OPEC+ coalition is committed to making decisions that achieve balance in the oil market and serve the interests of consumers, producers, and …

Iraq has slipped one spot to the 14th position in the ranking of countries with the lowest petrol prices, the latest data from Global Petrol Prices, a prominent international resource tracking fuel costs, showed this weekend. The website’s May 2023 report revealed that Iraq’s descent was prompted by a slight …

Iraq’s oil exports to the United States have seen a marked contraction, dropping to an average of 136,000 barrels per day (bpd) in the preceding week, data from the US Energy Information Administration (EIA) showed on the weekend. This echoed a trend in the United States’ broader crude oil intake …

Oil prices ticked up on Friday as U.S. officials appeared close to striking a debt-ceiling deal, and as the market weighed conflicting messages on supply from Russia and Saudi Arabia ahead of the next OPEC+ policy meeting. Brent crude settled 69 cents, or 0.9%, higher at $76.95 a barrel. U.S. …

On Friday, Basra crude oil prices declined in their last trading session. Basra Heavy crude closed at $72.03, down 6 cents, while Basra Intermediate crude closed at $75.18, also down 6 cents. Despite the daily decrease, both crudes recorded weekly gains. Basra Heavy crude saw a weekly gain of $1.29 …

The International Monetary Fund (IMF) believes that Iraq needs to sell oil at a price of $75.8 per barrel to achieve budget equilibrium and avoid deficit. A table presented by the Fund indicated that the balance in Iraq’s budget for 2023 will be achieved if the oil is sold at …

According to Iraq’s oil minister, Hayan Abdel-Ghani, Iraq does not anticipate further oil output cuts by OPEC+ at its next meeting in June. In an interview with Reuters, Abdel-Ghani stated that Iraq could not reduce its oil production further and expects no additional reduction during the upcoming meeting. Iraq is …

The US Energy Information Administration (EIA) has reported a decrease in Iraq’s oil exports to the United States. According to the administration’s report, Iraq’s average oil exports to the US reached 148,000 barrels per day during the past week, marking a decrease of 74,000 barrels per day compared to the …